Ray Lytle

Who investigates the investigators of Wall Street?

Posted on April 9, 2014 by rayl

Recently A bloomberg.com article told the story of a Securities exchange Commission lawyer who recently retired. in the article He revealed something that all of us fear. The lawyer James kidney said that The SEC was too scared of the big banks to truly punish those responsible for the economic collapse in 2008.
Kidney claimed that there were several layers of fear that SEC investigators faced. One was the power of the banks to obstruct any and all investigations but second was an even more obvious but none the less shocking of a reason. You see when most investigators or lawyers who work on the Securities and Exchange commission leave they end up going to work for the very companies that they had just spent their whole career investigating.
It’s the same with IRS employees. They work their IRS career writing laws and investigating people who break them then they are hired by the biggest corporations who pay them incredible salaries. Their job title is basically “to help your employer skirt the laws”.
What about people in the energy or environmental regulating offices. Yup you guessed it. Most of them leave their jobs creating regulation and investigating the breaking of laws and eventually are hired by the energy companies.
In other words the good guys who write the regulation’s and investigate the people who find ways around them are constantly caught in a fine line of building a case for prosecution against the big money company bad guys who one day they hope to work for.
It is no wonder that justice for the wealthy and powerful is on a different level than it is for the rest of us.
By the way to this day there has never been and there currently is no one from any decision making capacity with the major lending and trading institutions responsible for our economic meltdown serving any time for their misdeeds.